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Meghan Markle and Prince Harry’s Wedding Is Expected to Generate Close to $700 Million for the UK Economy

Harry Meghan economic bolster weddingLONDON, ENGLAND - NOVEMBER 27: Prince Harry and Meghan Markle during an official photocall to announce the engagement of Prince Harry and actress Meghan Markle at The Sunken Gardens at Kensington Palace on November 27, 2017 in London, England. Prince Harry and Meghan Markle have been a couple officially since November 2016 and are due to marry in Spring 2018. (Photo by Samir Hussein/Samir Hussein/WireImage)

Meghan Markle and Prince Harry’s May 2018 wedding is expected to generate a lot more than just buzz and attention.

The royal spectacle of the year is expected to generate close to 500 million pounds for the United Kingdom, according to a Reuters estimate. (When the currency is exchanged, half a billion pounds amounts to $680 million.)

The couple, who is set to marry at St George’s Chapel at Windsor Castle, will be in the spotlight come May 19. According to Reuters, an extra 350,000 people visited the UK back in April 2011 around the time when Prince William married Kate Middleton. That statistic was comparable to April 2010, as recorded by the Office for National Statistics.

harry meghan wedding

A shop window displays photographs of Prince Harry and Meghan Markle near to Windsor Castle, Berkshire. (Photo by Steve Parsons/PA Images via Getty Images)

“We think approximately 200 million pounds will come from tourism, travel, hotels,” David Haigh, chief executive of business valuation company Brand Fiancee, told the outlet.

Much of the economy will also be bolstered by celebrations surrounding the event, which will also include the sale of commemorative items like shirts, mugs, hats and more.

Along with the aforementioned factors of economic boosting, Harry and Markle’s nuptials will bring in massive amounts of free advertising for the U.K. Haigh speculates that it’s close to 100 million pounds worth that the country would typically invest to get its tourism messaging out there.

Meanwhile, the royal family will be fronting all costs for the nuptials. Keep up with The Knot for all the latest regarding Prince Harry and Meghan Markle’s nuptials.

About the Author

Esther Lee
Esther Lee
Esther is the Senior News Editor at The Knot. A self-proclaimed pop culture enthusiast, she appreciates a good celebrity interview just as much as she adores Nancy Meyers movies. You can find her kicking off her mornings with barre and a green juice, traveling and exploring new cultures, and rapidly scrolling her feed for the latest and greatest news. Follow her on Instagram and Twitter at @theestherlee.